Last updated: March 2026 | Sources: Bank of Greece, Hellenic Bank Association
Opening a Greek bank account is essential for expats living in Greece. This guide covers requirements, best banks, fees, and the application process.
Do You Need a Greek Bank Account?
Legally required for:
- Property purchases in Greece
- Utility payments (electricity, water, internet)
- Tax payments (ENFIA, income tax)
- Receiving Greek salary or pension
- Some residency permit applications
Highly recommended for:
- Paying rent (traceable transactions)
- Avoiding international transfer fees
- Day-to-day expenses (cards widely accepted)
- Building financial history in Greece
Required Documents
For EU Citizens
- ✅ Valid passport or national ID card
- ✅ Greek tax number (AFM/AΦM)
- ✅ Proof of address (home country or Greek)
- ✅ Proof of income/employment
- ✅ Greek phone number (sometimes required)
For Non-EU Citizens
- ✅ Valid passport
- ✅ Greek tax number (AFM/AΦM)
- ✅ Valid residency permit or visa
- ✅ Proof of Greek address (rental contract, utility bill)
- ✅ Proof of income/employment
- ✅ Greek phone number
- ✅ Sometimes: Reference letter from home bank
Additional Documents (May Be Requested)
- Employment contract or pay slips (last 3 months)
- Bank statements from home country (last 3-6 months)
- Proof of social security registration (AMKA)
- Utility bill in your name (for address verification)
Step-by-Step Application Process
Step 1: Obtain Your AFM (Tax Number)
Before opening a bank account, you need an AFM (Αριθμός Φορολογικού Μητρώου).
- Visit local DOY (tax office) or KEP (citizen service center)
- Bring passport and proof of address
- Receive AFM immediately (free)
Step 2: Choose Your Bank
Research banks based on:
- Branch/ATM network in your area
- English-language support
- Online banking quality
- Fees and minimum balances
Step 3: Book an Appointment
Most banks require an in-person appointment for non-residents. Call ahead or visit a branch to schedule.
Step 4: Attend the Appointment
- Bring all required documents (originals + copies)
- Expect 30-60 minutes for the process
- Ask about English online banking
- Request debit card and PIN (may arrive separately by mail)
Step 5: Initial Deposit
Most accounts require a minimum opening deposit (€50-€500 depending on account type).
Step 6: Activate Online Banking
Set up username/password for online and mobile banking. Test international access if needed.
Best Banks for Expats in 2026
1. Eurobank
Best for: English service, digital banking
| Feature | Details |
|---|---|
| Monthly Fee | €3-€8 (waivable) |
| Minimum Deposit | €100-€500 |
| ATM Network | Large (nationwide) |
| English Support | ✅ Good |
| Online Banking | ✅ Excellent |
2. National Bank of Greece (NBG/Εθνική)
Best for: Largest network, reliability
| Feature | Details |
|---|---|
| Monthly Fee | €4-€10 |
| Minimum Deposit | €100 |
| ATM Network | ✅ Largest in Greece |
| English Support | ✅ Available |
| Online Banking | ✅ Good |
3. Alpha Bank
Best for: Expat packages, international transfers
| Feature | Details |
|---|---|
| Monthly Fee | €3-€9 |
| Minimum Deposit | €100-€300 |
| ATM Network | Large |
| English Support | ✅ Good |
| Online Banking | ✅ Good |
4. Piraeus Bank
Best for: Competitive fees
| Feature | Details |
|---|---|
| Monthly Fee | €2-€7 |
| Minimum Deposit | €50-€200 |
| ATM Network | Large |
| English Support | ⚠️ Variable |
| Online Banking | ✅ Good |
5. Revolut/N26 (Alternative)
Best for: Digital-first, low fees (but not a full Greek bank)
| Feature | Details |
|---|---|
| Monthly Fee | €0-€17 |
| IBAN | LT/DE (not Greek) |
| Greek Tax Compliance | ⚠️ May not work for all |
| Best Use | Supplementary account |
Note: Revolut/N26 provide EU IBANs but not Greek IBANs. Some Greek authorities may require a Greek IBAN for certain transactions.
Bank Account Fees (Typical 2026)
Monthly Maintenance
- Basic account: €3-€8/month
- Premium account: €10-€25/month
- Student accounts: Often free
Transaction Fees
| Transaction Type | Typical Fee |
|---|---|
| ATM withdrawal (own bank) | Free |
| ATM withdrawal (other Greek banks) | €1-€3 |
| ATM withdrawal (non-EU) | €3-€5 + percentage |
| SEPA transfer (Eurozone) | €0-€3 |
| International transfer (non-EU) | €15-€40 + exchange rate markup |
| Incoming international transfer | €5-€15 |
| Debit card payment (Greece/EU) | Free |
Other Common Fees
- Account statement (paper): €2-€5/month
- Card replacement: €5-€15
- Overdraft: 8-12% annual interest
- Closed account fee: €0-€30
Digital Banking Features
What to Expect
- ✅ Mobile apps (iOS/Android)
- ✅ Online banking (web)
- ✅ Card controls (freeze/unfreeze)
- ✅ Transaction notifications
- ✅ Bill payments
- ✅ Tax payments (some banks)
- ⚠️ English interface (varies by bank)
Popular Greek Banking Apps
- Eurobank Mobile: Highly rated, full English
- NBG Mobile: Comprehensive, English available
- Alpha Mobile: Good features, English available
- Piraeus Mobile: Functional, limited English
Tax Implications
CRS (Common Reporting Standard)
Greek banks automatically report account information to tax authorities under CRS. Your home country may receive this data if they have a tax treaty with Greece.
Declaring Foreign Accounts
Greek tax residents: Must declare foreign bank accounts if total exceeds €500,000.
Non-Greek tax residents: Generally no Greek tax on foreign income, but check your home country rules.
Common Challenges & Solutions
Challenge 1: Language Barrier
Solution: Choose larger banks (Eurobank, NBG, Alpha) in central Athens/Thessaloniki. Request English-speaking staff.
Challenge 2: Insufficient Documentation
Solution: Call ahead to confirm exact requirements. Bring more documents than you think you need.
Challenge 3: Long Processing Times
Solution: Some banks approve same-day; others take 1-2 weeks. Ask about timeline upfront.
Challenge 4: Minimum Balance Requirements
Solution: Compare accounts. Some waive fees with monthly deposits (salary/pension) instead of minimum balance.
Challenge 5: Card Delivery Delays
Solution: Cards typically arrive by mail in 5-10 business days. Provide reliable Greek address. Some banks offer instant virtual cards.
Alternatives to Traditional Banks
1. Electronic Money Institutions (EMIs)
- Viva Wallet: Greek digital bank, full IBAN
- Revolut: EU IBAN (Lithuania), widely accepted
- N26: German IBAN, good for EU residents
2. When EMIs Work
- ✅ Day-to-day spending
- ✅ Receiving salary (check with employer)
- ✅ Online purchases
- ❌ Property purchases (often require Greek IBAN)
- ❌ Some government payments
Tips for Success
- Get your AFM first – No bank will open an account without it
- Bring original documents – Copies often not sufficient
- Get Greek phone number – Required for SMS verification
- Ask about fee waivers – Many banks waive fees with salary deposit
- Test online banking – Ensure you can access from abroad if needed
- Keep minimum balance – Avoid monthly fees
- Use SEPA transfers – Cheapest way to move money within EU
Useful Resources
- Bank of Greece – Central bank, regulations
- Hellenic Bank Association – Member banks directory
- AADE (Tax Authority) – AFM application info
Need Help Setting Up?
OptimaStay assists expats with banking setup:
- Bank selection guidance based on your needs
- Document checklist preparation
- Appointment coordination
- Translation assistance if needed
- Ongoing banking support
Book a consultation for banking guidance
Disclaimer: Banking regulations and fees can change. Always verify current requirements directly with banks. This guide is for informational purposes only.
Related: Greek Tax Residency Guide | Buying Property in Greece
